FNB pays out R11.8 billion to property buyers using nav» Home in its banking APP

FNB Source: Google Images

FNB has facilitated R11.8 billion in payouts to property buyers using nav» Home in its banking APP. Since launching nav» Home in 2016, approximately 10 000 families have been placed in homes through the seamless functionality.

Chief Executive of FNB Retail, Raj Makanjee says, “Buying a home is the single biggest investment and financial commitment that most individuals and families will make, and our aim is to make this a worthwhile family experience. The nav» (‘navigating life’) functionality is one of several interfaces we are using as part of our growing focus on being an integrated financial services provider and a trusted money manager that helps customers with tools to better their lives.”

FNB offers free instant property value estimates on nav» Home to help you avoid paying too much when buying or selling for too little. You can also access free area reports to help you choose areas that are most suited to your needs when buying, and a free calculator which points out costs to expect when buying a home. Furthermore, you have the ability to obtain pre-approval for a home loan with the ability to track your application once it is submitted through nav» Home. Customers can also switch their home loan from another provider.

In addition to nav» Home, FNB customers can also use nav» Car for vehicle license renewals and nav» Money to better manage their money. Recently, the Bank has expanded the free benefits on nav» by integrating Savings Goals into nav» Money and introduced a new feature called nav» Wellness to encourage healthier lifestyles.

FNB’s success in deploying scalable platform-led innovations was once again illustrated during its recent annual results, with APP logins topping 45.5 million in June this year.

“We are delighted that customers are accessing our breadth of offering – which includes transact, lend, invest and insure – using all our interfaces including the APP. Property finance is a key part of our offering as we recognise that home ownership is essential to inter-generational wealth creation. We are increasing our focus on enabling this for our FNB customers,” concludes Makanjee.